On February 7, 2023, Loop Capital Markets was mandated as an active book-runner on a $1 billion senior unsecured Green bond offering for Comcast Corporation. The 10-year bond is rated A3/A-/A-.
Use of proceeds are earmarked for financing or refinancing Eligible Green Investments.
On February 7, 2023, Loop Capital Markets acted as a co-manager on a seven-tranche, $11 billion senior unsecured notes offering for Intel Corporation. The bonds are rated A2/A across 3-, 5-, 7-, 10-, 20-, 30-, and 40-year tranches.
Use of proceeds are earmarked for general corporate purposes including funding for working capital, capital expenditures and refinancing outstanding debt.
On February 7, 2023, Loop Capital Markets acted as a co-manager on a two-tranche, $1.5 billion senior unsecured notes offering for Starbucks Corporation. The bonds are rated Baa1/BBB+ across 3- and 10-year tranches.
Use of proceeds are earmarked for debt repayment and general corporate purposes.
On February 6, 2023, Loop Capital Markets acted as a co-manager on a $800 million senior unsecured notes offering for Becton, Dickinson and Company. The 6-year bond is rated Baa2/BBB/BBB.
Use of proceeds are earmarked for debt repayment and general corporate purposes.
On February 6, 2023, Loop Capital Markets acted as a co-manager on a €800 million senior unsecured euro notes offering for Becton Dickinson Euro Finance S.à r.l. The 6-year bond is rated Baa2/BBB/BBB.
Use of proceeds are earmarked for debt repayment and general corporate purposes.
On February 6, 2023, Loop Capital Markets served as a co-manager on a four-tranche, $4 billion senior unsecured notes offering for NextEra Energy Capital Holdings, Inc. The bonds are rated Baa1/BBB+/A- across 5-, 7-, 10- and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes to fund investments in energy and power projects.
On February 2, 2023, Loop Capital Markets acted as a co-manager on a two-tranche, $1.6 billion senior unsecured notes offering for MPLX LP. The bonds are rated Baa2/BBB/BBB across 10- and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes, and to redeem or retire existing debt.
On January 30, 2023, Loop Capital Markets acted as a co-manager on a $1.1 billion high yield senior unsecured notes offering for Charter Communications. The 8-year bond is rated B1/BB-.
Use of proceeds are earmarked for general corporate purposes including debt repayment and to fund potential share buybacks.
On January 30, 2023, Loop Capital Markets acted as a co-manager on a $500 million senior unsecured notes offering for Tyco Electronics Group S.A. The 3-year bond is rated A3/A -/A-.
Use of proceeds are earmarked for general corporate purposes.
On January 26, 2023, the City of St. Louis Missouri (the “City”) and St. Louis Lambert International Airport (the “Airport”) sold its $64.935 million Airport Revenue Bonds, comprising of $60.080 million of Airport Revenue Bonds, Series 2023A (Non-AMT) and $4.855 million of Airport Revenue Bonds, Series 2023B (AMT) (the “Bonds”) with Loop Capital Markets serving as Book Running Senior Manager. The Bonds are rated A2 (Stable) and A (Stable) by Moody’s and Fitch, respectively recognizing the enplanement recovery and route expansion at the Airport.
Bond proceeds will be used to (i) finance the costs of the construction and improvement of the Airport, (ii) fund the purchase of a debt service reserve surety for the Bonds, and (iii) pay costs of issuance for the Bonds. The Firm assisted the City and Airport in creating the rating agency and investor presentations. The transaction was well received with almost all 33 investors having viewed the POS and investor presentation during the pre-marketing process. Additionally, the City and Airport answered questions received from investors during the pre-marketing process. The Firm provided the City, Airport and Financial Advisors read sheets with investor feedback throughout the pre-marketing period.
The City and Airport received strong interest with over $136 million of priority orders or 2.1x overall subscription. Investors primarily consisted of Bond Funds and SMAs. Due to strong investor interest, spread to MMD was reduced between 2 and 4 basis points, at spots along the yield curve, between pre-pricing and final pricing. The Bonds had an All-In TIC of 4.14%.
